Cabot Corp (CBT) News & EventsCBTCabot Corp

Cabot Secures $50M Grant from DOE

Cabot announced a modified $50M grant from the U.S. Department of Energy's, or DOE, Office of Critical Minerals and Energy Innovation that will support the company's recently announced plans to expand its North American battery materials platform. Supported by this DOE grant and approximately $75M of Cabot investment, the company plans to expand domestic production of advanced conductive additives at its facilities in Franklin, Louisiana, and Pampa, Texas. The planned investments are designed to address rising demand for advanced battery materials driven by the expansion of energy storage systems, increasing power requirements from artificial intelligence infrastructure and data centers, ongoing grid modernization efforts, and broader electrification trends. It will support this growing demand while expanding domestic production of critical conductive additives in the United States. The grant reflects a collaborative effort between Cabot and DOE to redirect funding from the company's originally announced Michigan project to a two-site brownfield expansion program. By leveraging existing manufacturing assets, Cabot expects to accelerate the development of a local and secure supply of critical conductive additives for the growing domestic battery supply chain while strengthening its ability to serve customers globally. The planned investments are also expected to support high-quality manufacturing and construction jobs and contribute to U.S. leadership in advanced battery materials technologies.

Cabot Appoints Steve Delahunt as Interim CFO

Cabot announced that it has appointed Steve Delahunt, VP and corporate treasurer, to serve as CFO on an interim basis, effective October 1. Delahunt will serve in the role while the company continues its search process for a new CFO. As previously announced, Erica McLaughlin, currently executive VP, CFO and head of corporate strategy, has been elected president and CEO of Cabot, effective October 1, succeeding Sean Keohane. McLaughlin will step down from her position as CFO at that time.

Cabot Reports Q3 Revenue of $982M, Beating Expectations

Reports Q3 revenue $982M, consensus $949.7M. OSean Keohane, Cabot President and Chief Executive Officer, commented: "I am pleased with our strong third-quarter performance as our teams continued to execute at a high level despite a dynamic operating environment. We delivered adjusted EPS of $1.67, an increase of 4% sequentially, driven by strong performance in our Performance Chemicals segment. In Performance Chemicals, segment EBIT increased 19% year-over-year, driven by higher volumes and expanded unit margins. In Reinforcement Materials, segment EBIT declined 24% year-over-year, as higher volumes were more than offset by lower gross profit per ton. Overall, our results demonstrate the strength of our execution as we continue to navigate the current market conditions."